Automotive Ultrasonic Technologies Market

Automotive Ultrasonic Technologies Market Size (2023 – 2028):

The Global Automotive Ultrasonic Technologies Market was worth US$ 2.39 billion in 2022 and is anticipated to reach a valuation of US$ 4.64 billion by 2028 and is predicted to register a CAGR of 11.91% during 2023-2028.

Market Overview:

Automobile ultrasonic technologies are used to identify objects that are in a vehicle's path. Vehicles with the newest, most modern driver assistance feature, such as parking aid systems, blind spot detection systems, height & pressure monitoring systems, and autonomously opening tailgates, frequently incorporate automotive ultrasonic technology. Numerous advanced driver-aid elements have been included in vehicles as a result of technological breakthroughs. Vehicle manufacturers have been able to create and introduce innovative technologies thanks to technological developments in the automotive sector, which were followed by the introduction of smart infrastructure and self-driving cars.

Due to the rise in traffic accidents globally, there is a demand for safety features including lane departure warnings, parking assistance, traction control, collision avoidance systems, electronic stability control, airbags, and tire pressure monitors. Vehicles with ADAS (Advanced Driver Assistance Systems) fitted safety features may identify and categorize objects on the road and alert drivers in accordance with road conditions. In addition, depending on the traffic conditions, these systems can also automatically slow down or stop the car. Additionally, it has been noted that the death rates from traffic accidents have increased dramatically.

Market Drivers:

The primary reason projected to propel the global market for automotive ultrasonic technologies is the rise in parking concerns across the globe. With the advent of smart parking infrastructure, there has been a rise in the use of various technologies as a complement to the smart parking infrastructure. For instance, the advent of self-parking systems in vehicles after the usage of sensor-based parking detection has benefited the smart technologies present in a vehicle. Additionally, because there are more cars parked on the sides and there are fewer lights, users find it challenging to park their cars in places with crowded parking spaces for these and other reasons. As a result, automakers are equipping cars with self-parking features like cutting-edge ultrasonic technologies to solve this problem. When a car is being parked, these systems installed in it identify any obstructions or blind spots that may be present, and they then give the driver a safety reaction. Urban and smart cities are therefore projected to use automotive ultrasonic technologies in order to manage trash sustainably by leveraging sensor-based services and IoT-based systems, which would then drive the market's expansion.

Increased investment toward developing driverless vehicles is projected to be another driving factor for the Global Automotive Ultrasonic Technologies Market. The autonomous vehicle's smart parking assistance feature, which displays available parking spaces, has been tested by numerous automotive manufacturing businesses. Many nations have implemented technological advancements that enable parking or autonomous vehicle operation. Also, the improvements carried out by technology-driven firms toward the employment of sensors & ADAS features in vehicles have significantly benefited the expansion of autonomous vehicles.

Market Restraints:

The Global Automotive Ultrasonic Technologies Market is anticipated to be significantly constrained by high implementation costs and configuration complexity. Due to continual technological changes, there is a demand to periodically upgrade the system & software expected to maintain them compatible with the external environment. Furthermore, the price of all components, and the necessary assembly in smart vehicles, is higher. Many sensors are integrated into a single dielectric plate according to compatibility, which incurs a larger cost. Due to the large system's need for wireless equipment installed in vehicles for efficient operation, its deployment comes at a higher cost. Therefore, the aftermarket adoption of ultrasonic technology in automobiles is hampered by high design complexity paired with greater initial implantation cost.

Market Key Developments

• Jidu, an electric vehicle business, unveiled its first concept robocar, which is far more futuristic than we had anticipated. The autonomous vehicle intends to raise the bar for intelligent transportation with features including a smooth, seamless body, butterfly wing doors, adjustable zero-gravity seating, a big 3D borderless screen, and the capacity to detect the user's emotions. ROBO-01 includes 31 external sensors, including two LiDAR, five millimeter-wave radars, 12 cameras, and 12 ultrasonic radars. It employs twin Nvidia Orin X CPUs.

AUTOMOTIVE ULTRASONIC TECHNOLOGIES MARKET REPORT COVERAGE:

Market Segmentation:

Automotive Ultrasonic Technologies Market - By Type:

• Proximity Detection.
• Range Measurement.

Proximity Detection Segment is expected to have the dominant share in the Global Automotive Ultrasonic Technologies Market During the Forecast Period. The procedure of locating any obstruction on the front or back of the vehicle is known as proximity detection. A vehicle that uses ultrasonic sensors can locate anything without physically touching it. Ultrasonic sensors detect changes in the electromagnetic field or the return signal by emitting an electromagnetic field. Due to the benefits that ultrasonic sensors provide, technologies utilizing them in vehicles have become very popular. Ultrasonic sensors can detect metallic and non-metallic items and have good stability, making them commonly employed as proximity detection sensors. Moreover, the quick reaction followed by the negligence of adverse weather, extended functional life, and highly reliable because of the absence of mechanical parts and lack of physical contact between the sensor and the sensed item makes ultrasonic sensors commonly employed for proximity detection in a vehicle.

Automotive Ultrasonic Technologies Market - By Vehicle Type:

• Passenger Cars.
• Light Commercial Vehicles.
• Heavy Commercial Vehicles.
• Electric Vehicles.

Electric Vehicles Segment is expected to have a prominent share in the Global Automotive Ultrasonic Technologies Market During the Forecast Period. Ultrasonic welding technique is a proven joining process that is increasingly required by carmakers for usage in Electric Vehicles. For cable to terminal connections, bus bars, battery production and power electronics. The automotive wire harness manufacturing business has traditionally been the single largest user of ultrasonic welding. All equipment makers are familiar with and employ linear welding, which is a more prevalent approach and a set procedure for joining the wires. However, there are size restrictions, welding in smaller areas, geometrical shapes, welding orientation issues, and vibration impacts on ancillary components, much like with many other joining procedures.

Automotive Ultrasonic Technologies Market - By Application:

• Park Assist.
• Blindspot Detection.

Park Assist Segment is expected to have a prominent share in the Global Automotive Ultrasonic Technologies Market During the Forecast Period. For years, ultrasonic sensors, often known as "parking sensors," have been incorporated into automobiles to aid drivers in avoiding colliding with objects when parking. These microphones emit sound waves to detect objects' proximity and warn drivers when they are approaching too closely.

Market Regional Analysis:

The Global Automotive Ultrasonic Technologies Market Report includes the segmentation of regions:

• North America
• Europe
• Asia-pacific
• Middle-east and Africa
• Latin America

Asia-Pacific is expected to have a prominent share in the Global Automotive Ultrasonic Technologies Market During the Forecast Period. In recent years, the Asia-Pacific region's automotive industry has developed. The area is one of the most profitable regions for investment and has made a substantial contribution to global automobile sales. The major companies in the automotive industry have concentrated on growing in Asia by setting up their corporate offices or manufacturing facilities in nations like China, Japan, and India, which are the region's automotive hubs. Due to the robust economic climate and ongoing rise in household disposable income, the demand for luxury vehicles is anticipated to increase in the Asian area. The vehicle market is expanding most quickly in emerging economies like India, Australia, Japan, China, and others. Due to the ease of setting up industrial facilities, many firms have expanded into the area.

Market Key Players:

1. Aisin Corporation
2. Continental AG
3. Denso
4. Hyundai Mobis Co. Ltd.
5. Magna International
6. Murata Manufacturing Co. Ltd.
7. Robert Bosch GMBH
8. TDK Corp. 
9. Elmos Semiconductor SE
10. Valeo SA.